Twinsburg, OH Cost of Living

Twinsburg cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

Displayed above is a general overview of the Twinsburg, OH cost of living index. The overall cost of living index in Twinsburg, OH is 108, which is 19% higher than the Ohio average and 8% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Twinsburg, OH are 7% higher than the Ohio average and 6% higher than the national average.

Did you know?

The cost of living in Twinsburg is 19% higher than the Ohio average.

The cost of living in Twinsburg is 8% higher than the national average.

The cost of housing in Twinsburg is 12% higher than the national average.

Compare Twinsburg, OH Cost of living To Other Cities

Salary Calculator

I currently make 50,000This is how much you would need to earn in Price difference in compared to

Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

The salary calculator is meant to help you compare your salary in Twinsburg, OH to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Twinsburg, OH, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Twinsburg, OH salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$93,353

$7,779

$2,178

$2,801

Renters

$31,294

$2,608

$730

$939

A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Twinsburg, OH, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Twinsburg, OH has a median income of about $93,353 for people who own homes. Based on that number, a person should spend a maximum of $2,178 on expenses related to housing. Renters have a slightly different median income, which is $31,294. Based on this average, renters should spend no more than $730 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Ohio Sales Tax

State

General Sales Tax

With Max Surtax

Ohio

5.75%

8%

Ohio Income Tax

State

Income Tax (Low)

Income Tax (High)

Ohio

0.5%

5%

For those who live in Twinsburg, OH and want to know what the true cost of living is, they ought to look at both the Ohio income tax rate and the Ohio sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Ohio, the sales tax is 5.75%, while the most you'll pay in surtax is 8%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Ohio, the income tax rate ranges between 0.5% to 5%.

Goods & Services

Item

Twinsburg

National avg.

Difference

Haircut

$17.33

$16.03

8.1%

Beauty Salon

$36.88

$37.37

1.3%

Toothpaste

$2.63

$2.44

8.1%

Shampoo

$0.99

$1.00

0.8%

Movie

$10.63

$10.25

3.7%

Bowling

$4.78

$4.94

3.2%

Groceries

Item

Twinsburg

National avg.

Difference

Ground Beef

$5.03

$3.79

32.8%

Fried Chicken

$2.05

$1.39

47.3%

Milk

$1.88

$2.00

6.0%

Potatoes

$2.47

$3.00

17.9%

Pizza

$10.49

$9.83

6.7%

Beer

$8.16

$8.88

8.1%

Health Care

Item

Twinsburg

National avg.

Difference

Optometrist

$80.26

$101.83

21.2%

Doctor

$110.20

$108.31

1.7%

Dentist

$90.67

$92.21

1.7%

Ibuprofen

$10.33

$9.28

11.4%

Lipitor

$460.86

$424.43

8.6%

Housing

Item

Twinsburg

National avg.

Difference

Home Price

$210,100.00

$184,700.00

13.8%

Avg. Mortgage Payment

$1,011.93

$1,201.80

15.8%

Apartment Rent

$1,027.00

$949.00

8.2%

Transportation

Item

Twinsburg

National avg.

Difference

Gasoline

$2.24

$2.24

0.4%

Tire Balancing

$50.35

$46.16

9.1%

Utilities

Item

Twinsburg

National avg.

Difference

All Electricity

$157.80

$165.42

4.6%

Phone

$33.53

$28.71

16.8%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.